Third Amendment to Disney Key Employees Retirement Savings Plan (Hulu, LLC Participation)

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment, effective January 1, 2022, updates the Disney Key Employees Retirement Savings Plan to include Hulu, LLC as a participating employer. It specifies that for Hulu employees, certain plan terms are modified, such as the definition of "Qualified Plan" and ownership thresholds for affiliates. The amendment clarifies how employer contributions are defined for Hulu employees. The Walt Disney Company, through its authorized representative, executed this amendment on December 30, 2021.

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EX-10.9 9 fy2022_q1x10qxex109.htm EXHIBIT 10.9 Document


Exhibit 10.9
THIRD AMENDMENT TO THE
DISNEY KEY EMPLOYEES RETIREMENT SAVINGS PLAN
EFFECTIVE JANUARY 1, 2012
(WITH AMENDMENTS ADOPTED THROUGH DECEMBER 2015)

WHEREAS, The Walt Disney Company (the “Company”) maintains the Disney Key Employees Retirement Savings Plan, effective January 1, 2012 (with amendments adopted through December 2015) (the “Plan”); and

WHEREAS, Article 9 of the Plan authorizes the Committee or its delegate to make amendments to the Plan that are necessary and desirable; and

WHEREAS, the Committee desires to update the reference to “Qualified Plan” for a Participating Employer;

NOW, THEREFORE, this Third Amendment to the Plan be and hereby is adopted, effective as of January 1, 2022, as follows:

1.Hulu, LLC shall be a Participating Employer in the main plan document, subject to the following terms, which shall apply solely to Employees of Hulu, LLC:

a.“Qualified Plan” shall refer to the Hulu, LLC Retirement Trust Disney Retirement Savings Plan;
b.“Affiliate” shall be determined by replacing any 80% ownership interest condition with a 50% ownership condition.
c.“Employer Contributions” means the contributions made to the Qualified plan on behalf of an Eligible Employee, excluding any contributions made under a cash or deferred arrangement intended to satisfy the requirements of Code section 401(k) and any matching contributions thereon.
IN WITNESS WHEREOF, the undersigned has caused this Third Amendment to be executed this 30 day of December, 2021.
 /s/ Pascale Thomas
Pascale Thomas